The notes bear a coupon rate of 6.375% per annum and will mature on October 15, 2020.
The company will issue the notes priced at 100% to qualified institutional investors in the US, with a spread of 500 basis points and yield to maturity of 6.375%.
Interest on the notes is payable semi-annually commencing from April 15, 2013.
The company intends to use the net proceeds from the financing venture to fund the previously announced agreement and plan of merger with Medicis Pharmaceutical Corporation; also fund Medicis’s obligation to pay the conversion consideration with respect to, or repurchase, its outstanding notes; and pay transaction expenses in connection with the merger.
J.P. Morgan Securities LLC, The Goldman Sachs Group, Inc., and RBC Dominion Securities, Inc. are acting as joint book-running managers for the offering.
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